In a week that saw the FTSE100 close at its best levels in over a year, optimism over this week’s economic reopening of outdoor pubs, shops, gyms and hairdressers, appears to be being tempered by concerns over next month’s local and regional elections, and in particular how well the (Scottish National Party) SNP might do in the context of whether they get a mandate from Scottish voters to hold another independence referendum.
These concerns seem somewhat premature and overstated at this point in time, however these undercurrents could well act as a bit of a handbrake on any upside for UK stocks, as well as the pound over the next few weeks.
For now, European stocks look set to open lower despite the strong finish in the US, as markets in Asia came under pressure ahead of a key week for Chinese data, against a backdrop of concern that Chinese officials are now looking at cracking down on some of the frothier parts of the Chinese economy, as they look to take measures to rein back on leverage, as well as increasing regulation. A $2.8bn fine by…
